Minerals 260 Says Franco-Nevada Receives FIRB Approval for Western Australia Project Mortgage, Shares Down 3%

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Minerals 260 (ASX:MI6) said Franco-Nevada Australia has received approval from Australia's Foreign Investment Review Board (FIRB) for its mortgage arrangements over certain Bullabulling gold project tenements in Western Australia, according to a Monday Australian bourse filing.

The company said FIRB approval was a condition precedent to Franco-Nevada making the final royalty funding payment of AU$95 million under the royalty deed, with the second tranche payable on or before March 27, the filing added.

Shares fell 3% in recent Monday trade.

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